Indonesian bank starts operations in Mumbai, to boost India-Asean business

Mumbai, July 10 : The Bank Internasional Indonesia (BII) launched its operations in India Wednesday by opening a branch in Mumbai.

Dato Khairussaleh Ramli, BII president, said the Mumbai branch would open up new business opportunities as India is considered one of the fastest growing economies in Asia and the world.

"The activation of BII Mumbai is in line with the Group's mission in humanizing financial services across Asia," Ramli said.

BII is a subsidiary of the Maybank Group, one of the largest banks in Asean by total assets and market capitalisation with headquarters in Malaysia. BII Mumbai will enhance both BII and Maybank Group's presence beyond the Asean region.

With trade flows between India and the Asean countries already at USD 79 billion and expected to reach USD 100 billion by 2015, the Mumbai branch will provide a host of trade, foreign exchange and related banking products and services to Indian companies with business interests in the Asean region and vice versa.

It will also cater to Maybank Group's customers and their counterparts for their banking requirements in India.

By September this year, BII hopes to focus on corporate and commercial banking segment by arranging Buyers' Credit and External Commercial Borrowings for the Indian customers.

Pravin Batra, CEO, BII India Operations, said the bank would emerge as a 'dominant intra-ASEAN Trade Finance Bank'.

BII, one of the largest Indonesian banks, has 415 branches, including international presence in Mauritius and now Mumbai.

--IANS (Posted on 10-07-2013)

business-india-news headlines

DLF leases 3 million sq ft office space in 2013-14

Cairn India posts 18 percent rise in Q4 profit

Paris Motor Show woes Indian visitors

Toonz forays into artificial intelligence toys, films

Sensex, Nifty at new highs; capital goods sector gains

Sensex hits record high for third straight day

Reebok India launches 'live with fire' campaign

KBC winner Sunmeet Kaur to launch boutique in the capital

'Goa sells maximum beer in India'

RIL raises $550 mn from Japanese banks

OPEC daily basket price closes lower

Rupee slips below 61 against the dollar

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014


Your e-mail:

Your Full Name:

Type verification image:
verification image, type it in the box


Back to Top